Fed to Remain Accommodative - FOMC Minutes


The Federal Reserve will remain committed to its program of asset purchases and accommodative policy in light of a struggling labor market and inflation well below its two percent target, according to minutes from the latest Federal Open Market Committee meeting, published today.

noted that it would likely be some time until substantial further progress toward the Committee’s maximum-employment and price-stability goals would be realized,” according to the minutes.

“A number of participants highlighted the importance of the Committee clearly communicating its assessment of progress toward its longer-run goals well in advance of the time when it could be judged substantial enough to warrant a change in the pace of asset purchases,” the minutes added.